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~ ~ ~ Funds Available for Distribution ~ ` ~ _
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. 8. All the partners hereia, both Limited Partners and the General •
-
Partaer agree that all thnds available for distribution ariaing or realiZeB from
the following sourcea shall be allocated and distributed as provided in Articlea
~ 9 and 10 of this Agreemeat. . ~ ~ . - : `
. ,(a) Profits earned through the activities of the-Partnership in_
~ - • :r
_ • the operation of the said Property as computed in accordance with
~ normat and accepted accounting procedures but without taking any
_ ~ deduction for depreciation and after deducting any payments ma~e in
. ~ .
redaction of the principal of aqy mortgage or mortgages on the said . ~
~ Property. ~ . ~ . -
. . .
(b) The sale of any part or all of the property owned by the Part-
. . S
nership. . • . . ~
' - . ~
_ ~
- ~c) Any excess funds resulting from the placement or refinancing ~
. . . _ ~
' of any mortgage or mortgages on the Property or the encumbrancing ~
_ ~
. of the Property in any manner. _ _ . . -
~
~ - ~
- - _ (d) Any ft~nds deemed available for distribution by a Consent signed `
iy
• •
• ' •
by Partners owning two-thirds or more of the Partnership capital unita
. to the extent permitted by the applicable law.
~ - • ~ Distributions Amon~ Partners ~ ' °
~
.
9. The funds desscribed in Paragraph 8 shall be allocated and distributed
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to each of tt.e partners in the ratio that each partner's number of capital units '
_ ~
owned bears to the aggregate total of capital units owned by all the partnera, said
~ dietribution to take place as provided in subdivision (b) of Paragraph 10.
. - .
.
. . Loesea, Tiine of IHstribution ~ ~ ~ -
- - . ~ - -
10. (a) Subject to the provisions of Paragraph 20 atl losses or deficienciea ~i.=.
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